Time Is Primarily a __________ That Can Be Measured in Units

question 13

Multiple Choice

Time is primarily a __________ that can be measured in units.

• A)Value
• B)Goal
• C)Resource
• D)Decision device

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Definitions:

Cost of Goods Sold

Costs directly associated with the manufacturing of products that a business sells.

Collection Period

The standard timeframe for a corporation to collect receivables from its clientele.

Receivables Period

is the average number of days it takes for a business to collect payments from its customers after a sale has been made, indicating the efficiency of its credit and collection policies.

Credit Sales

Transactions where the customer buys goods or services on account, paying the supplier at a later date.